quarter ended August 31,<\/a> while quarterly profit declined 2% to $712 million.<\/p>\n\n\n\nThe company is now warning that revenue could fall by a high-single-digit percentage during fiscal 2027.<\/p>\n\n\n\n
$230 Billion Wiped Out From Market Value<\/strong><\/p>\n\n\n\nThe latest results triggered another sharp reaction in Nike’s shares, which fell as much as 8.5% in extended trading.<\/p>\n\n\n\n
The decline adds to a much longer slide in the company’s stock. Around $230 billion has been erased from Nike’s market capitalisation from its peak.<\/p>\n\n\n\n
The stock has been under sustained pressure as investors question how quickly the company can revive sales and regain momentum against increasingly aggressive competitors.<\/p>\n\n\n\n
Nike’s Biggest Shoe Categories Are Struggling<\/strong><\/p>\n\n\n\nOne of Nike’s biggest problems is its lifestyle footwear business.<\/p>\n\n\n\n
Sportswear, which includes many of the company’s most popular everyday shoes and apparel, has been particularly weak. The Jordan brand is also facing declining demand.<\/p>\n\n\n\n
Converse has performed even worse, with revenue falling 28% in the latest quarter.<\/p>\n\n\n\n
Classic products such as the Air Force 1, Dunk, Air Jordan and Cortez helped Nike become a dominant force in sports and fashion. However, changing consumer preferences and increased competition have made it harder for these established franchises to maintain their earlier momentum.<\/p>\n\n\n\n
China Has Become A Major Problem<\/strong><\/p>\n\n\n\nNike’s Greater China business remains under severe pressure.<\/p>\n\n\n\n
Revenue in the region fell 22% during the latest quarter, while the decline was 26% on a currency-neutral basis.<\/p>\n\n\n\n
Local sportswear companies have become stronger competitors, while changing consumer preferences have made it difficult for Nike to maintain its previous position.<\/p>\n\n\n\n
Nike is planning changes to its Chinese distribution strategy from January, including tighter control over online sales through third-party platforms.<\/p>\n\n\n\n
Nike Is Rebuilding Its Retail Strategy<\/strong><\/p>\n\n\n\nNike’s earlier push towards direct-to-consumer sales has also become a problem.<\/p>\n\n\n\n
The company had reduced its dependence on wholesale retailers, but subsequently found itself less visible in some stores where consumers shop.<\/p>\n\n\n\n
Nike is now rebuilding relationships with wholesale partners.<\/p>\n\n\n\n
North American revenue increased 2% in the latest quarter, while Nike Direct revenue declined 8% and digital sales fell 13%.<\/p>\n\n\n\n
Job Cuts And $2.5 Billion Savings Plan<\/strong><\/p>\n\n\n\nNike has launched a major restructuring programme called Pace, which includes changes to its supply chain, organisational structure and geographical operations.<\/p>\n\n\n\n
The company expects the programme to generate approximately $2.5 billion in cumulative savings through fiscal 2031.<\/p>\n\n\n\n
However, the restructuring is expected to involve around $1 billion in pre-tax charges. Nike has also warned that the changes will result in fewer jobs, although the company has not yet specified the final number of positions that will be eliminated.<\/p>\n\n\n\n
Decisions regarding affected roles are expected to begin in 2027.<\/p>\n\n\n\n
Nike Is Also Expanding In India<\/strong><\/p>\n\n\n\nDespite the cost-cutting measures, Nike is continuing to invest in India.<\/p>\n\n\n\n
The company plans to establish a new campus in Bengaluru focused on capabilities and talent supporting Nike, Jordan Brand and Converse.<\/p>\n\n\n\n
The Bengaluru campus is expected to become part of Nike’s broader global operations and reflects the importance of India as a major talent and business centre.<\/p>\n\n\n\n
Can Nike Recover Its Lost Momentum?<\/strong><\/p>\n\n\n\nNike still has one of the world’s most recognisable sports brands, but its latest numbers show that several parts of the business need significant improvement.<\/p>\n\n\n\n
North America is growing and some performance categories are showing signs of progress. However, weakness in China, Sportswear, Jordan and Converse continues to weigh on the overall business.<\/p>\n\n\n\n
The company now faces the challenge of creating new products that can attract consumers while rebuilding its retail strategy and cutting costs at the same time.<\/p>\n\n\n\n
Summary<\/strong><\/p>\n\n\n\nNike is facing a major business slowdown as revenue falls, key footwear categories struggle and its market value drops sharply. The company has lost around $230 billion in market capitalisation from its peak and expects another high-single-digit revenue decline in fiscal 2027. Nike is responding with a $2.5 billion savings plan, job reductions, retail changes and increased investment in its Bengaluru campus.<\/p>\n\n\n\n
Image Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Nike Faces A Major Business Reset Nike is going through one of the most difficult periods in its recent history, with falling sales, weaker demand for some of its biggest footwear lines and a sharp decline in its stock value. The sportswear giant’s revenue fell 4% to $11.2 billion in the quarter ended August 31, […]<\/p>\n","protected":false},"author":30,"featured_media":1314465,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[954],"class_list":["post-1314460","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-nike"],"acf":[],"yoast_head":"\n
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<\/figure>\n\n\n\n